Sealy & Co. has completed a $908.5 million transaction with DRA Advisors, a New York City–based investment adviser. The disposition represents 16.3 million square feet of the 18.1 million-square-foot SSEP industrial-property portfolio and includes 106 industrial buildings.
Proceeds from the sale are expected to be distributed to SSEP investors in January 2020. SSEP plans to sell the remaining portfolio assets in the first half of 2020, with additional liquidating distributions to follow.
The transaction includes 106 industrial warehouse buildings which were acquired by SSEP between November 2012 and December 2018. With a concentration in known distribution hubs, the properties are located in 16 markets across the Southeast, Southwest and Midwest.
“Since the 1970s, we have invested in select industrial properties in search of quality risk-adjusted returns,” said Michael Sealy, executive vice president – capital markets for Sealy & Co. “We believ
